MECHANISM TO SET FUEL FLOOR PRICE GOES TO CABINET FIRST, SAYS ABDULLAH

KUALA LUMPUR, Dec 10 (Bernama) -- The mechanism to set the floor price for
petrol and diesel will be discussed in the Cabinet first before a decision is
made, Prime Minister Abdullah Ahmad Badawi said Wednesday.

He said the government has not decided on the matter yet although the
National Economic Council held its meeting at Parliament House
Wednesday.

"Not yet. We will bring it to the Cabinet for further discussions," he told
reporters after tabling government Bills at the meeting.

Abdullah announced a 10 sen cut for a litre of petrol and diesel on Dec 3,
lowering the pump prices of RON97 petrol to RM1.90 (US$1=RM3.61) from RM2 and
RON92 to RM1.80 from RM1.90. Diesel price dwindled to RM1.80 from
RM1.90.

The downward revision was the sixth since August following the slide in
global crude oil price.

-- BERNAMA